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Executive and Legislative documents laid before the General Assembly of North-Carolina [1871; 1872]

6 Document No. 26. [Session
1S70, part of four million (4,000,000) of tluit date, nnd part
of the bonds, in coutroveivy, in the actions before referred to,
and at the time of such assent on the part uf said Colliiison
arid on deli^'e!•y nf the said release, the said S. W. Hopkins ^Sr
Co. are to place in his hands full power of attorney to ch'aw
any and all moneys heretoiorc deposited with Drake, Klen-worth
& Cohen, saljject to the eaid Collinson and Frank H.
Collins. The said bonds so deposited, are to be subject to the
order of the said John Collinson, but not beyond a period of
four months from this date, upon payment, theiefore from time
t<;» time as called for, to the said bankers, at the rate .'f
£'138,1.10 per bt)nd, with accrued interest to date of such pay-ment,
less, however, a snm sufficient to pay two coupons on
said bonds to be retained by him for that purpose.
Second. The proceeds of the said bonds shall be held by the
said bankers, for the respective parties hereinafter mentioned,
in the following proportions : First, the Western Division of
the Western Xf I'th Carolina Railroad Company, represented
by Mr. Kicholas W. Woodfin, shall be entitled to receive
$300,000, in currency, ot such proceeds to be paid to him, or
his order, in iS'ew York. L. P. Bayne fur himseli and L.
P Bayne S: Co. ip200,000 in currency, to be paid to the
order of said L. P. Bayne. These sums to be paid in New
York, out of the first proceeds of negotiation, jjro rata in
the pro]iortion of 200 to Bayne, and 300 to said Woodfin,
as said ['tMceeds are received, the remaining proceeds of
the said 1,200 bonds are to be paid as follows: The proceeds
of 190 of the said bonds are to be paid to B. F. Bab-cock
& Co.. and all the residue of such proceeds to be paid
to Messrs. Barlow, Laroccpie ct; Mac. Farland, attorneys for the
said trustees of the Jacksonville, Pensacola and Mobile Rail-road
Coumpany; the sum last mentioned, howevei', to be first
paid. All the actions and suits by and between any of the
parties to this agreement, including the action of the said John
Collinson against S. W. Hopkins & Co., are to retain their
existmg status and remain in their present condition, without

6 Document No. 26. [Session
1S70, part of four million (4,000,000) of tluit date, nnd part
of the bonds, in coutroveivy, in the actions before referred to,
and at the time of such assent on the part uf said Colliiison
arid on deli^'e!•y nf the said release, the said S. W. Hopkins ^Sr
Co. are to place in his hands full power of attorney to ch'aw
any and all moneys heretoiorc deposited with Drake, Klen-worth
& Cohen, saljject to the eaid Collinson and Frank H.
Collins. The said bonds so deposited, are to be subject to the
order of the said John Collinson, but not beyond a period of
four months from this date, upon payment, theiefore from time
t